Precious metals stumble after sky-high rally

Silver tanks 17%, gold faces steepest fall since 2013

- AGENCIES

GOLD PRICES TUMBLED by %14,000 per 10 grams and silver prices tanked by 20,000 per kg in the national capital on Friday as investors booked heavy profits amid weak global trends and arebound in the US dollar.

According to the market-men, gold of 99.9% purity plunged by 14,000, or 7.65%, to 1.69 lakh per 10 gram (inclusive of all taxes). The precious metal had hit an all-time high of 1.83 lakh per 10 gram on Thursday, after rising by %12,000.

Silver tumbled by 20,000, or nearly 5%, to %3,84,500 per kilogram (inclusive of all taxes). The white metal had soared $19,500 to hit a record of %4,04,500 per kg in the previous market session.